Cynergy - anyone sent money to closed account before

Dietofsoup

My fault completely but I've opened the latest Cynergy Easy Access and stupidly sent funds (from Nationwide) into an old and closed account.

It's compounded by not knowing which (of 10) closed Cynergy accounts it's tried to go to.

NW don't make it easy to identify which one it's gone to (by app, website or phone where security prevents them!).

I've messaged Cynergy and will follow up with a phone call tomorrow but will it just bounce back? 

It's a four figure sum.

I'll be deleting the NW closed account payees when I get this resolved 

Thumbs_Up

Dietofsoup said:

My fault completely but I've opened the latest Cynergy Easy Access and stupidly sent funds (from Nationwide) into an old and closed account.

It's compounded by not knowing which (of 10) closed Cynergy accounts it's tried to go to.

NW don't make it easy to identify which one it's gone to (by app, website or phone where security prevents them!).

I've messaged Cynergy and will follow up with a phone call tomorrow but will it just bounce back? 

It's a four figure sum.

I'll be deleting the NW closed account payees when I get this resolved 

I believe I have done this, easy mistake to make. I just secured message them and within a hour they transfer the money to the correct account. If you look at your old account number the new account number is very similar. Relax, and sleep well.

pearl123

I did it. Cynergy contacted me and resolved  the problem within a day. 

Dietofsoup

Thanks @pearl123 and @Thumbs_Up

Cynergy have resolved it in the last hour 

EdSwippet

Pro tip: Next time you open a new Cynergy account for a better rate, leave the old one open with a £0.01 balance, so it remains active. You can then transfer anything you send to it across to the newer account through Cynergy internal transfer.

You can even just live with this arrangement permanently, to avoid the hassle of setting up a new payment from your Nationwide (or other bank) current account. I do this. Send to the old account, wait about five minutes or so for it to arrive, then log in to Cynergy and move the new money across to the newer one. Internal Cynergy transfers are instant.

Dietofsoup

EdSwippet said:

Pro tip: Next time you open a new Cynergy account for a better rate, leave the old one open with a £0.01 balance, so it remains active. You can then transfer anything you send to it across to the newer account through Cynergy internal transfer.

You can even just live with this arrangement permanently, to avoid the hassle of setting up a new payment from your Nationwide (or other bank) current account. I do this. Send to the old account, wait about five minutes or so for it to arrive, then log in to Cynergy and move the new money across to the newer one. Internal Cynergy transfers are instant.

Appreciate the reply but I much prefer to close the superceded account immediately so that I get the interest from it.

The_Unready

Another pro tip: close all your Cynergy accounts and move your money to an account that doesn't need to be babysat and constantly monitored for interest rate changes. Life is just too short! 😃

Dietofsoup

But not too short to reply to threads you have no interest (pun intended) in.

:-)

kitchensinq

The_Unready said:

Another pro tip: close all your Cynergy accounts and move your money to an account that doesn't need to be babysat and constantly monitored for interest rate changes. Life is just too short! 😃

For the uninitiated, what does "need to be babysat and constantly monitored for interest rate changes" mean? And is this (whatever it is) peculiar to just Cynergy?

eskbanker

kitchensinq said:

The_Unready said:

Another pro tip: close all your Cynergy accounts and move your money to an account that doesn't need to be babysat and constantly monitored for interest rate changes. Life is just too short! 😃

For the uninitiated, what does "need to be babysat and constantly monitored for interest rate changes" mean? And is this (whatever it is) peculiar to just Cynergy?

When interest rates rise, some savings providers will do this by simply paying better interest on existing accounts (no action needed for savers to benefit), but others choose instead to open a new issue of the account, forcing customers to open a new account or to get the old one 'upgraded' on request if they wish to benefit from the higher rate.  Cynergy fall into the latter camp but they're far from alone....

cwep2

I did this - was with a small amount - was returned to my current account a couple of business days later.
I am confident you won't have lost the money, but you might lose a few days interest whilst it's sorted out, hopefully not too many and if you can get through to them on the phone they may be able to sort it.

Good luck